China-based tumor immunotherapy developer Novatim Immune Therapeutics (Zhejiang) Co., Ltd. has reportedly raised close to RMB 500 million (USD 68.9 million) in its first financing round. The round was led by Kequan Fund in the Anji County Economic Development Zone. The proceeds will be used for core product clinical studies, core pipeline investigational new drug (IND) filing, and GMP-compliant facility construction.
Company Profile and R&D Platforms
Founded in 2018, Novatim Immune Therapeutics has established a wholly owned subsidiary, Shanghai Keqi Pharmaceutical Technology Co., Ltd. The company boasts a range of research and development (R&D) platforms, including bifunctional antibody, antibody drug conjugate (ADC), chimeric antigen receptor (CAR)-T, hematoma CAR-T, and others.
Key Developments
Notably, Novatim’s in-house developed KY-0118, described as the first mutant IL-2 fusion protein targeting programmed-death 1 (PD-1) in China, obtained clinical approval in the country in August this year, with the first subject expected for enrollment this month. Additionally, Keqi Pharma’s KQ-L6 autologous CAR-T cells, touted as the world’s first CAR-T targeting TM4SF1, had its clinical filing accepted for review by the Center for Drug Evaluation.
Future Development Plans
The funding will support Novatim Immune Therapeutics’ ongoing efforts to advance its tumor immunotherapy pipeline, enhance clinical research, and expand its manufacturing capabilities. This strategic investment underscores the company’s commitment to innovation and improving patient outcomes in the field of oncology.-Fineline Info & Tech
